|
I.
OPENING OF MEETING
Julie Kuhnhein
Board Chair Julie Kuhnhein opened the meeting at 5pm.
II.
DISCUSSION
II.A.
Public Comments
Julie Kuhnhein
There were no community members in attendance.
III.
ACTION ITEMS
III.A.
Adopt Real Property, Personal Property and Motor Vehicle Tax Rates for 2026-27
Julie Kuhnhein
The Fort Thomas Independent Board of Education approval to adopt the proposed general fund tax levy of 90.2 cents on real property (including .1 cents for exonerations) and 102.7 on personal property (including .1 cents for exonerations) and the motor vehicle tax rate of 92.5 cents for the 2026-2027 school year.
The General Fund tax levied in fiscal year 2026 was 104.4 cents on real property and 104.4 cents on personal property and produced revenue of $ 18,597,872.39. The proposed General Fund tax rate of 90.2 cents on real property (including .1 cents for exonerations) and 102.7 cents on personal property (including .1 cents for exonerations) is expected to produce $19,510,644.41. Of this amount, $613,443.21 is from new and personal property. The compensating tax for 2026 is 86.7 cents on real property and 98.8 cents on personal property and is expected to produce $18,754,049.20.
The general areas to which revenue of $912,772.02 above 2026 revenue is to be allocated as follows: Cost of collections, $13,691.58, instruction $ 410,326.33 and building fund $ 488,754.11.
This information was published pursuant to KRS 160.470. The proposed tax rate is not subject to recall under KRS 132.017.
Order #2775 - Motion Passed: Approval of the proposed general fund tax levy of 90.2 cents on real property (including .1 cents for exonerations) and 102.7 on personal property (including .1 cents for exonerations) and the motor vehicle tax rate of 92.5 cents for the 2026-2027 school year passed with a motion by Mr. Clem Fennell IV and a second by Mrs. Sarah Foster.
|
Mr. Jeff Beach
|
Absent
|
|
Mr. Clem Fennell IV
|
Yes
|
|
Mrs. Sarah Foster
|
Yes
|
|
Mrs. Julie Kuhnhein
|
Yes
|
|
Mr. David Russell
|
Yes
|
The following was read into the record:
The Fort Thomas Independent Board of Education approval to adopt the proposed general fund tax levy of 90.2 cents on real property (including .1 cents for exonerations) and 102.7 on personal property (including .1 cents for exonerations) and the motor vehicle tax rate of 92.5 cents for the 2026-2027 school year.
The General Fund tax levied in fiscal year 2026 was 104.4 cents on real property and 104.4 cents on personal property and produced revenue of $ 18,597,872.39. The proposed General Fund tax rate of 90.2 cents on real property (including .1 cents for exonerations) and 102.7 cents on personal property (including .1 cents for exonerations) is expected to produce $19,510,644.41. Of this amount, $613,443.21 is from new and personal property. The compensating tax for 2026 is 86.7 cents on real property and 98.8 cents on personal property and is expected to produce $18,754,049.20.
The general areas to which revenue of $912,772.02 above 2026 revenue is to be allocated as follows: Cost of collections, $13,691.58, instruction $ 410,326.33 and building fund $ 488,754.11.
This information was published pursuant to KRS 160.470. The proposed tax rate is not subject to recall under KRS 132.017.
IV.
ADJOURNMENT
Julie Kuhnhein
Board Chair Julie Kuhnhein adjourned the meeting at 5:04pm.
|